Does happiness adapt? : a longitudinal study of disability with implications for economists and judges
Oswald, Andrew J. and Powdthavee, Nattavudh. (2008) Does happiness adapt? : a longitudinal study of disability with implications for economists and judges. Journal of Public Economics, Vol.92 (No.5/6). pp. 1061-1077. ISSN 0047-2727
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Official URL: http://dx.doi.org/10.1016/j.jpubeco.2008.01.002 ...
This paper is an empirical study of partial hedonic adaptation. It provides longitudinal evidence that people who become disabled go on to exhibit considerable recovery in mental well-being. In fixed-effects equations we estimate the degree of hedonic adaptation at — depending on the severity of the disability — approximately 30% to 50%. Our calculations should be viewed as illustrative; more research, on other data sets, is needed. Nevertheless, we discuss potential implications of our results for economists and the courts.
|Item Type:||Journal Article|
|Subjects:||H Social Sciences > HC Economic History and Conditions|
|Divisions:||Faculty of Social Sciences > Economics|
|Library of Congress Subject Headings (LCSH):||People with disabilities, Adaptability (psychology), Happiness, Hedonic damages|
|Journal or Publication Title:||Journal of Public Economics|
|Date:||7 January 2008|
|Page Range:||pp. 1061-1077|
|Access rights to Published version:||Open Access|
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